For nearly a year, the price of fuel has not stopped climbing. Indeed, it started in June 2020 and it greatly amplified with the start of the conflict between Ukraine and Russia. Thus, the French are very worried about their future and some wonder if they will be able to refuel to get to work. A real problem that does not seem to be getting better for the moment. We explain to you what will change in the coming days.
Africa is facing an “unprecedented” crisis caused by the Russian invasion of Ukraine, including soaring food and fuel prices, two officials from the United Nations Development Program have warned. #AFP pic.twitter.com/WMky4Wb46w
– Agence France-Presse (@afpfr) May 6, 2022
The price of fuel is likely to rise further in the coming months!
For information, a quarter of French diesel comes from our Russian neighbors and it corresponds to about 75% of sales at the pump… So it’s a real problem… The government wants to put in place new sanctions against Russia by trying to not to lower the purchasing power of the French people even further. As a reminder, last January, the price of fuel was displayed above two euros per litre. It was very difficult for the French, all categories combined. In this complicated context, the Head of State took the decision to give a reduction of 18 cents until July 31.
A boost from the government that is not enough
This little boost has helped to lower the price of fuel below two euros. This does not solve everything, but everything is good to take. Alas, for the past few weeks, prices have been panicking again and increasing even more…
“Demand is increasing with economic growth and supply is having a little trouble keeping up, producing countries are not increasing their production to respect the discipline of OPEC + (an organization allowing producing countries to display the same prices and thus to avoid unfair competition Editor’s note) and on the markets, the uncertainty creates a little speculation with opportunistic behavior “explains Jacques Percebois, a teacher in economics at the University of Montpellier and who is also specialized in energy to journalists from The Dispatch.
Here in the#Aisne, the French always need their car. The fuel at 2 euro per liter suffocates the people of Axon.
— Benjamin Cauchy (@BenjaminCauchy) May 6, 2022
Sanctions against Putin that will increase the price of fuel
Furthermore, a European oil embargo could further alter fuel prices. Indeed, prices have risen by six cents per liter on average in just two weeks. The liter of fuel now averages 1.935 euros, unleaded 98 at 1.912 euros per liter and unleaded 95 at 1.814 euros per litre. In some provinces such as Ariège, Aube, Gers, Tarn or even in the Hautes-Pyrénées and on some highways, the price of fuel is already above two euros.
Discount on fuel, food check… What the law will contain to fight against rising prices https://t.co/6j9eOD3Dsl pic.twitter.com/knPG4EHdXU
— Hubert MESSMER 🏃🏻♂️🧘♂️ 🎶 (@Zehub) May 8, 2022
An upcoming Russian oil embargo
The European Union proposes an embargo on Russian oil for “to pay a high price” to Vladimir Putin for his war on Ukrainian territory. Indeed, the pressure will become increasingly strong on oil imports. Here is what Ursula von der Leyen, President of the European Commission, announced. “We will phase out Russian deliveries of crude oil within six months and of refined products by the end of the year.” She also adds: “It will be a complete ban on imports of all Russian oil, transported by sea or by pipeline, crude and refined (…) in an orderly fashion, in a way that will allow us to establish alternative supply routes”.
Thus, the situation is not likely to improve any time soon and the price of fuel is likely to increase further with these future sanctions. To be continued…
🇬🇧 In France, a further increase in fuel prices is expected in the event of a ban on the import of Russian oil to EU countries
— Francis Pousse, president of the fuel distributors and new energies department at the union … https://t.co/cVMNUBVxgN
— sandra dradra (@sandradradra1) May 4, 2022
#time #refuel #change #days